Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Cibc World Market Inc.

Cibc World Market Inc. increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) by 91.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,529 shares of the transportation company’s stock after purchasing an additional 1,683 shares during the quarter. Cibc World Market Inc.’s holdings in Old Dominion Freight Line were worth $904,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. ProShare Advisors LLC increased its stake in Old Dominion Freight Line by 994.3% in the 1st quarter. ProShare Advisors LLC now owns 201,217 shares of the transportation company’s stock worth $60,099,000 after purchasing an additional 182,830 shares in the last quarter. Private Advisor Group LLC grew its stake in Old Dominion Freight Line by 2.9% during the 1st quarter. Private Advisor Group LLC now owns 10,242 shares of the transportation company’s stock valued at $3,059,000 after acquiring an additional 290 shares in the last quarter. WINTON GROUP Ltd grew its stake in Old Dominion Freight Line by 11.5% during the 2nd quarter. WINTON GROUP Ltd now owns 8,736 shares of the transportation company’s stock valued at $2,239,000 after acquiring an additional 899 shares in the last quarter. Jennison Associates LLC grew its stake in Old Dominion Freight Line by 43.6% during the 1st quarter. Jennison Associates LLC now owns 8,603 shares of the transportation company’s stock valued at $2,570,000 after acquiring an additional 2,614 shares in the last quarter. Finally, Veritable L.P. grew its stake in Old Dominion Freight Line by 11.7% during the 1st quarter. Veritable L.P. now owns 1,689 shares of the transportation company’s stock valued at $504,000 after acquiring an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 73.48% of the company’s stock.

Insider Buying and Selling

In other news, Chairman David S. Congdon sold 32,000 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $313.95, for a total transaction of $10,046,400.00. Following the completion of the transaction, the chairman now directly owns 858,861 shares in the company, valued at $269,639,410.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 10.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com assumed coverage on Old Dominion Freight Line in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Raymond James lifted their target price on Old Dominion Freight Line from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, October 27th. Cowen lifted their target price on Old Dominion Freight Line to $267.00 in a research note on Thursday, October 27th. Vertical Research lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating and set a $260.00 price target for the company. in a report on Wednesday, August 17th. Finally, Wells Fargo & Company lifted their price target on Old Dominion Freight Line from $300.00 to $305.00 and gave the company an “overweight” rating in a report on Thursday, October 27th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $296.25.

Old Dominion Freight Line Stock Down 0.1 %

ODFL opened at $298.34 on Monday. The business has a 50 day moving average price of $270.46 and a 200 day moving average price of $270.55. Old Dominion Freight Line, Inc. has a twelve month low of $231.31 and a twelve month high of $373.58. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 1.74. The firm has a market cap of $32.96 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Investors of record on Wednesday, December 7th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, December 6th. This represents a $1.20 annualized dividend and a yield of 0.40%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 10.28%.

Old Dominion Freight Line Profile

(Get Rating)

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

See Also

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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